G.F. 326
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16.
Preliminary information shows that while
private sector expenditure on building and
construction in the third quarter grew by about 2%
over a year earlier, the corresponding public sector expenditure was about 11% higher. Taken together,
overall expenditure on building and construction
recorded an increase of about 5% in the third
quarter. Analysed by components, major private sector building projects in progress during the third
quarter included the office and commercial
development in Ice House Street, the Hang Seng Bank New Headquarters Building, and the residential
developments at Greenfield Garden and Sun Tuen Mun
Centre. Major private sector civil engineering
projects in progress included Kwai Chung Container
Terminals 4 and 7, and the Tate's Cairn Tunnel.
Major public sector projects in progress included new
estates in the public housing programme, the Junk Bay
Tunnel, the New Territories Circular Road
improvement, the Pamela Youde Hospital, and the Hong
Kong University of Science and Technology. Taking
the first three quarters of 1989 as a whole, the
share in overall building and construction
expenditure attributable to the private sector was
64%, compared with 66% in 1988.
17.
(c) Supply of new property
in the private sector
Caution should be exercised in interpreting
the quarterly figures on building completions, as
they are subject to fairly wide fluctuations (the
same applies to the quarterly figures on building consents). Figures covering a longer period, say
several quarters, are more meaningful for analysis.
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